Sydney Emerging Global City Jun10

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SYDNEYAustralias global city

June 2010


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FOREWORDThis report outlines the strengths and weaknesses of Sydney, economically as Australias global city.

Business prowess, intellectual capital, infrastructure to service business and social needs and an

enviable lifestyle are the hallmarks of a global city Sydney has all of these in varying degrees.

There is no doubt that the challenges we face today draw our attention away from the positives that

make Sydney a city that is the envy of other international cities. We should continue to build on our

strengths but not forget to work on reducing our weaknesses as well.

No city is perfect, all cities face challenges in telecommunications, government regulation, congestion

and transport, housing affordability, and lifestyle, but as this report reveals Sydneys positives far

outweigh any negative.

This report should only embolden Sydney to grasp the opportunity to be a gateway for the

emerging economic powerhouse of the Asia-Pacific region.

The world is changing. The cities that were once the powerhouses of business and finance are

moving closer to our home. Sydney can be a city of opportunity that capitalises on this change.

We hope that this report will remind us of the great advantages we take for granted,that have made Sydney the envy of others, and the opportunities that lay at our doorstep.

The Hon Patricia Forsythe

Executive Director

Sydney Business Chamber


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CONTENTS

01Introduction

page 04 02Business Environment

page 08 03Transport Infrastructure

page 11

04Human Capital and Innovation

page 14

05Liveability

page 17

06Governance: bringing it all together

page 21

07Conclusion

page 22

AAppendices

page 23


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Sydney Business Chamber has asked

PricewaterhouseCoopers (PwC) to

examine the current strengths and

weaknesses of Sydney as Australias

global city. This work follows the 2008

Sydney Business Chamber and PwC

study, Asia Pacific Cities of Opportunity,

which benchmarked Sydneys business

readiness against other leading cities

in the Asia Pacific region. While the

2008 report concentrated on a range of

Sydneys competitor cities in the Asia

Pacific, the current report turns inwards to

ask what Sydney can learn about areas of

strength and areas requiring development

by looking at its performance against

other global cities.

The term global city alludes to power,

sophistication, leadership, wealth, influence

and global interconnectedness.

To be called a global city means that

activities and ideas stemming from the city

have the ability to shape the world.

Although there is no concrete method

to assign this title to any one city, it is

undoubtable that centres such as New

York and London can lay claim. Assessed

as individual metropolises, these two

cities have a strong international image

that encompasses diverse cultural events,

dynamic populations and commanding

business and financial clout. It is

therefore possible to make a number

of broad observations about the nature

of global cities.

First, the idea of global city is tied more

closely to function than size. Indeed, global

population growth and urbanisation during

the 21st century has spawned the rapid rise

of mega cities generally defined as those

cities with more than 10 million people.

Yet many of these would not necessarily

be classified as global in nature.

Second, no global cities exists in isolation.

Rather, these cities are the hubs or leaders

in a network of centres that facilitate

investment and social development.Hence, it is the level of integration into this

network which defines the extent to which

a city can be classified as global.

Third, there is no single policy which can

lead to the emergence as a global citiy.

Rather, becoming a global city is the

cumulation of numerous smaller policy

goals which, through effective, integrated

planning and management, have

achieved a high level of innovation and

implementation of global best practice.

Accompanying these broad observations,

there are a number of specific attributes

that current the literature1ascribes to

global cities. These attributes combine to

integrate a city into the global network.

Generally, these attributes include:

01 Introduction

Scope and Objective.

1. Appendix 1 contains a list of current literature examined during the completion of this report

What is a global city?

4 |SydneyAustralias global city


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Business prowess, whichencompasses the existence of globally

significant businesses and their activity

on an active stock exchange. Industry

and business concentration adds to

the provision of services within the

city, and are influenced by government

activity and the hosting of significant

world events, such as trade forums or

major sporting events.

Intellectual Capital,including thecombined number of renowned

universities and research centres,

which can contribute to the diversity

of knowledge and human capital.

The degree of international diversity

within a city is indicative of the

desirability and ease to transfer from

other international centres.

Adequate Infrastructure to service

business and social needs.This requirement ranges from the

information and transport networks

which support business, mass transit

infrastructure that is able to reducecongestion and facilitate productivity,

through to reliable healthcare and

power generation facilities. While many

of these assets often exist out of the

public eye, their existence and reliability

is crucial to the everyday functioning

of the city.

Enviable lifestyle characteristics,

which include renowned cultural

institutions and environmentalassets. These assets not only attract

skilled workers and human capital

but also enhance the lifestyle of

current residents.

Every year a plethora of reports aim

to use criteria under similar headings

and track the development, or rank

the prowess, of a city relative to its

international counterparts. Definitions,

aims and methodologies differ significantlyamong reports, as does sample size

and composition.

These reports provide a wealth ofcomparative knowledge, but very little

city specific analysis. Therefore, drawing

these numerous reports together, Sydney

Business Chamber and PwC took a step

back and asked: what do all the findings of

these reports imply about Sydney and its

emergence as a global city?

Since most of these reports examine

characteristics identified as desirable

for global cities, we have used thecharacteristics or attributes of a global

city (discussed previously) as a framework

in which to identify where Sydneys

inherent strengths and weaknesses lie.

After making this identification we asked

what can be done to address these

weaknesses and build upon our strengths.

In answering this, attention was not

focused on specific policies; rather the

role of governance was identified as thelong term enabler that ensures all current

and future weaknesses can be addressed

in a comprehensive manner.

.. .the idea of global city is tied moreclosely to function rather than size.Indeed, global population growth

and urbanisation during the 21stcentury has spawned the rapidrise of mega cities

SydneyAustralias global city | 5


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In order to identify Sydneys current

strengths and weaknesses, its relative

ranking was calculated from each of the

numerous annual publications. A full

list of these publications can be found

in Appendix 1. This relative ranking

indicates Sydneys overall performancewhen compared to other international

centres included in the study, and allows

for consistent scoring across reports that

have differing sample sizes.

The relative rankings were then grouped

around the characteristics of a global city

discussed previously, with an average

taken to produce a score. Consistently

high scores highlight strengths, while

comparably low scores identify areas ofpotential opportunity for Sydney to focus

upon. For example, a city ranked number

one by all reports for a certain attribute

would receive a score of 100 while a city

which was consistently ranked last would

receive a score of 0. However, it should

be noted that because an average of

the relative ranking in all reports is used,

achieving scores at these extremes would

not be expected.

Research indicates that Sydney is already

perceived as Australias only global city

and first point of call for business and

tourism.2However, Sydneys growing

prominence in the global network of

cities has been a relatively recent affair.

As noted by Scott Baum (1997) thegrowth in Sydneys presence is the

result of improving information and

product network flows that are

gradually shifting eastward.

No longer is the Western Hemisphere the

dominant region in economic and political

affairs: the continued growth in China,

South East Asia and India, paired with the

weakening in the USA and Europe from

the global financial crisis, has acceleratedthis shift east and enhanced Sydneys

prominence as a gateway to this region.

Figure 1 displays the overall performance

of Sydney on four broad categories,

each composed of several indicators

discussed therein.

Some of the findings gleaned from these

reports align with expectations. For

example the fact that Sydney excels in

liveability is well documented, with the city

perceived as one of the most physically

attractive in the world, with good access

to a range of cultural and lifestyle assets.On the other hand, transport infrastructure

is consistently portrayed as a weakness.

The lack of investment in public transport

infrastructure, combined with a reliance

on motor vehicles are key areas where

Sydney under perfoms compared to many

leading international centres.

However, it is the contrary nature of

other findings within some of these

categories which throw into sharp reliefnot only differing perceptions of success

and influence, but also the nebulous

understanding on what attributes

constitute a successful, modern,

global city.

Our Methodology

2. Brand Sydney, 2010.

Sydneys emergence as a global city



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Figure 1 Sydneys Strengths and Weaknesses

Strength

Liveability

Business Prowess

Human Capital and Innovation

Transport Infrastructure

62.0

53.0

39.0

Weakness

72.0

Sydney Australias global city | 7


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Certain factors that can be used to identify

the business environment in a city include:

Transparencyof the government

and business environment, including

activity to minimise potential corruption

in the public and private sector

Ease of doing businesswhich

encompasses the regulatory aspects

of establishing and running a business

Political environment, includingthe stability of governance and

effectiveness of policy framework.

While this is linked to the level of

transparency, it also encapsulates the

level of government involvement in the

business environment and taxation

Presence of global firms reflects

the number of multinational businesses

that are located in the Sydney

metropolitan area

Accessibility, which refers not only to

the efficiency of international transport

hubs, but also physical proximity to

other prominent markets, and

Market capitalisationwhich refers

to the value of all listings on the citys

stock exchange.

The financial clout of a city could have

grown steadily over many centuries,

as has happened with many European

centres. Alternatively, strategic locationson major international trade routes have

acted as a catalyst in the development of

many South East Asian financial centres.

The fortunes of all these cities expand and

contract with the relative economic flows

of the respective countries and regions to

which they provide services.

Given these growth paths it is valid

to argue that Sydneys opportunity to

develop into a major financial centre has

been more limited than some Northern

hemisphere counterparts. Hence the

finding that Sydney doesnt possess

the same raw financial clout, measured

purely in capital terms (domestic market

capitalisation), as major Northern

hemisphere financial centres is

not surprising.

However, circumstances change over time.

Geographic distance from trade flows or

time-zones has been overcome through

technology. Centres of technology around

Sydney and favourable government

policies help to provide a high degree

of global connection and e-readiness,

which highlights the ability to incorporate

and utilise technology in the business

environment. This ability to disseminate

information effectively bypasses traditional

geographic inhibitors.

02 Business Environment

Perhaps more than any other measure, a citys influence in the business

world, or financial clout, is used as a marker for a global city.



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Transparency

Ease of Doing Business

Political Environment

Presence of Global Firms

Accessibility

Domestic Market Value

69.5

64.7

61.7

Figure 2 Business Environment Indicators

59.6

35.0

Weakness Strength

80.0



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Australias emergence from the Global

Financial Crisis has been the envy of

the developed and developing world.

This period of economic uncertainly

and volatility served to underscore the

stability of the economy which has been

highlighted as a strength by a number of

surveys. Furthermore, a large presence

of global firms and regional headquarters

indicates that managers and their clients

expect Sydney to consolidate and build

upon this into the future.

When compared to other centres

of financial significance, the level

of corporate tax may inhibit some

investment. Although relatively high to

Asian counterparts, the corporate tax

rate is comparable to European and lower

than the United States. While the current

regulatory environment may make starting

and running a business more onerous

and costly compared to other centres in

the Asia Pacific region, these factors can

be offset by the degree of transparency

and certainty that accompany a stable

political environment. This atmosphere

is supported by established legal

frameworks that allow businesses to

clearly understand their current roles andimplement future plans with certainty.

The desirability of Sydney as a destination

for business and tourism is significant

to the development of the city. In 2008,

Sydney hosted more than 64 major

meetings and conferences, which places it

in the top tenth of international conference

locations. An important factor in these

successful events is the accessibility of

conference facilities in Darling Harbour to

world renowned tourist attractions, such

as the Harbour Bridge and Opera House.

These are aspects that allow Sydney to

secure 70% more business events than

Melbourne in 2008.3However, competition

for this business tourism between

Melbourne and Sydney is likely to increasein the future with the recent expansion of

conference facilities, regional development

and resourceful government initiatives in

the Victorian capital.

3. Source: ICCA Statistics Report 2008.

Over 65% of Australias finance

activity is undertaken in SydneyCity of Sydney



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Components to measuring

infrastructure include:

Commute time, which can be taken

as a proxy for the efficiency and

integration of transport systems.

Infrastructure assets, which includes

not only transport infrastructure, but

also air transport facilities and building

construction.

Cost of transport, which identifiesthe cost of public transport for the

longest mass transport trip within city

boundaries. These costs represent rail

use, with bus transport used where rail

is absent.

Sustainability of transport, examines

not only the green credentials for

predominant modes of transport within

a city, but also the ability of current

modes to meet urban spread forecasts.

When compared to other major

international centres, infrastructure is

often identified as Sydneys fundamental

drawback. This is potentially accentuated

by the focus on transport infrastructure

in many of the reports. Historic

underinvestment in public transport

infrastructure has led to a spiral of

deteriorating commute times and capacity

constraints which inturn leads to reliance

upon private vehicles and increasing

traffic congestion.

Poor sustainable transport performance

was reflected in one report by the low

number of mass transit miles per citizen

and hence a reliance on private transport

methods a contrast to leading European

and Asian centres. Other reports analyse

the prioritisation of public transport

vis--vis freeways and the proportion

of trips undertaken by non-motorised

methods. Notably, cities with higher

urban density and centralised populations

tend to utilise more sustainable active

transport methods. Interestingly, a third

report ranked Sydney highly, second

only to Singapore, in terms of congestion

management. A high ranking would

reflect a low level of traffic congestion

and provision of infrastructure and

services to manage this congestion.

This is a slightly surprising result given

the majority of report findings and thelack of any overt congestion management

measures in Sydney. However this

somewhat contradictory finding may

suggest that while the morning commute

is a subject for much local dissatisfaction,

this phenomenon is shared by many

international counterparts.

03 Transport Infrastructure

In both a literal and metaphorical terms, the foundation of any city rests upon the effectiveness of its

infrastructure. The activities infrastructure enables and enhances are of fundamental importance to the

daily operation of a city. Excellence in these areas can provide a city with a competitive edge in terms of

business opportunities, fostering cultural opportunities and ultimately enhance the lifestyle of city residents.



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Commute Time

Assets

Cost

Sustainable Transport

45.0

35.0

24.0

Figure 3Infrastructure Indicators

Weakness Strength

50.0

12 | Sydney Australias global city


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Furthermore, business propensity to

generate and utilise new ideas through

innovation is necessary to ensure a flexible

economic and social environment. Criteria

used to gauge human capital and the level

of innovation within a city include:

Intellectwhich looks at how well a city

attracts a diverse group of people and

talent. This dimension identifies the

number of immigrants and proportion

of residents with university degreesInnovationrelating to both the

business and educational environment

conducive to innovation and creativity.

Certain aspects, such as the number of

people employed in high tech services

and number of research institutions as

well as business uptake of knowledge

are important.

Global universitiesis an indicative

ranking of the number of high profile

international tertiary education centres

in the city.

Technological innovation and intellectual,

or human capital can be used to measure

the enhancement of a metropolitan area.

An inflow of international residents can

lead to development of human capital,

with corresponding growth in industry

and services. This knowledge creation

is facilitated by strong research and

educational facilities. Sydney performs in

the top quartile of innovation cities, with

innovation scores improving since 2007,6

but experiences difficulty in attracting

key global research and development

firms. A challenge for the city is to

develop programs and incentives

for leaders in innovation to return

or relocate to the region.

Although reports note that Sydney does

not house the worlds most prestigious

universities (for example an Oxford or a

Harvard), the performance of major local

universities consistently ranked in the top

100 underpins the strength of Sydneys

educational base. A reoccurring theme

is the role of universities and research

centres in supporting the intellectual

capital of the city. This is achieved through

two fundamentally important roles.

First, Universities and centres of R&D are

crucial in fostering local human capital.

Combined with a strong tertiary education

sector, reports identified the high level of

education within the local population. This

is a vital aspect for companies looking to

build a skilled workforce. More broadly,

the level of education within a population

is correlated to its productivity and ability

to influence and shape global discussion.

04 Human Capital and Innovation

6. Source: 2thinknow, Innovation Cities Global 256 Index.

While a citys foundation may rest upon infrastructure, it is built with ideas.

Hence, the importance of a city to foster and attract human capital is paramount.



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Intellect

Innovation

Global universities

Figure 4 Human Capital and Innovation indicators

Weakness Strength

60.0

58.3

68.4



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Secondly, Sydneys university and

educational industry is a major factor

in attracting human capital. For example,

both the University of Sydney and

Macquarie University can boast of a high

presence of international faculty and

students. Furthermore, all universities in

Sydney outperform Melbourne in these

aspects. A prominence of students from

India, Malaysia, and China indicates that

these countries perceive Sydney to be

important in developing knowledge flows.

This influx of overseas human capital

affords businesses located within

Sydney superior access to a deep and

diversified labour market. The diversity

of the population has also been shown

to foster creativity and innovation as

ideas are shared and remoulded by

these diverse influences.

These dynamics of attracting and fostering

human capital, supported by educational

and research capacity, were identified as

crucial inputs to developing as a global city.

An important but perhaps under-

represented question is the interaction

between current investment in innovation

and the future performance of a city.

Investment in research and development,

as well as innovative social policy will

allow a city to weather economic cycles

and attract business. Indeed, increasing

innovation in both public and private

sectors may have flow on effects for

improving liveability.

This influx of overseas humancapital affords businesses

located within Sydney superioraccess to a deep and diversifiedlabour market.



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Many try to classify different components

of liveability, from physical attributes,

such as natural environment, to more

intangible cultural aspects. Our analysis

therein encompasses the entire range.

The importance of liveability is influenced

by workers increasing focus on work/life

balance and sustainability. The growing

emergence of environmental issues

in central policy debate and business

decision making cements this as a key

indicator in international city comparison.Liveability can be broken into:

Living environment, which

encompasses such factors as safety

and accessibility to quality healthcare

services.

Air Quality indicated by the average

annual concentrations of particulate

matter measured in micrograms per

cubic meter in residential areas.Natural Environmentencompassing

access and quality of landscape

features and recreational sites, such as

beaches, lakes, mountains and parks.

Purchasing powerof citizens to buy

necessary and everyday goods. This

aspect relates to wage rates as well as

inflation.

Cultural aspectsincluding support

of the arts, entertainment and sport.

Culture is ability of citizens to engage in

diverse activities and can be achieved

through regular hosting of significant

regional and international events.

Housing Cost referring to the costfor an average citizen to obtain and

maintain housing in Sydney

Sydney residents are endowed with

numerous natural environments and

features, in close proximity to the city.

Sydney is consistently portrayed as a

city where the high residential costs are

a drawback to liveability. On the other

hand, few reports consider the flip side

of high cost housing the quality thatthis price delivers.

Quality is manifested not only in terms

of size of dwelling but also location.

In terms of size, the average home in

Sydney is larger than the average dwelling

in other global cities. Many residents enjoy

housing that is in close proximity to the

coast, harbour, and numerous outdoor

recreational spaces. High housing costs

in areas close to the CBD may in fact lead

to lower transport costs, and encourage

more active transport methods.

Hence, the real question is not whether

house prices in Sydney are too high,

but rather whether these prices deliver

relative value in terms of housing quality,

accessibility to lifestyle assets, exposure

to world class educational institutions and

the ability to tap into a globally integrated

jobs market. Evidently, there is a trade

off these inherent high costs in Sydney

are offset by job opportunities, enviable

lifestyle and environmental characteristics.

05 Liveability

Although a broad term, the liveability of a city is fundamental to attract residents the building blocks of

society. A city may attempt to position itself as a financial hub, but without the necessary characteristics

to provide citizens with a high quality and diverse lifestyle, human capital will be limited.



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Living Environment

Air Quality

Natural Environment

Purchasing Power

Culture

Housing Cost

90.0

84.6

73.0

Figure 5Liveability Indicators

Weakness Strength

68.3

38.6

90.6



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It should also be noted that in relative

terms, this high residential cost may beexacerbated by the recent price decline

of up to 30% in major overseas cities.

Not only does Sydney benefit from

relatively high safety and low cost of

healthcare services indicating that

living environment is a strength but

given the high air quality and endowment

of natural features, the future state of

the environment appears to be positive.

Recycling programs and superior access

to green spaces will help to maintain

environmental quality. Although generally

favourable, sustainability may be affected

by the citys limited public transport

provision and reliance on motor vehicles.

International visitors complement and

reinforce the image of Sydney as adesirable travel destination and potential

residence. Sydney is the centre of the

NSW tourism industry, boasting local as

well as regional attractions. A diverse

collection of regional areas, including

the wineries of the Hunter Valley, natural

beauty of the Blue Mountains and

Australias best beaches, are located

in every direction from the city. Within

Sydney, there are over 25 tourismprecincts, from the metropolitan areas

of Sydney Harbour, Kings Cross and

the Rocks to the Western areas of

Hawkesbury and the northern beaches

of Manly and Pittwater.

There is no doubt the astounding beauty

of the Sydney landscape contributes toexceptional lifestyle characteristics, a fact

pointed out in many reports. This natural

endowment highlights a difference to

traditional measures of liveability, namely

cultural attractions. Against this more

traditional measure Sydney still performs

well, however doesnt possess the cultural

depth and diversity that other Northern

hemisphere international centres are

renowned for.



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70%Sydney secured

...when it comesto hosting majorevents and celebrationsno other city does it

better that Sydney

more business events than itsnearest Australian rival in 2008



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The sheer weight of governance in

Sydney sets us apart from other globalcities.7However, the level or complexity

of Governance structures is not, in itself,

an inherently positive or negative attribute

for a city. Rather, it is the impact of this

governance structure upon the day-to-

day running of a city, and also long-term

strategic planning which should be

discussed.

Three areas were identified in which

Sydneys governance could be

strengthened. First, on a local level, this

could include the consolidation of the

current 42 local government areas (LGAs).8

The effectiveness of many of these

LGAs has been gradually stifled by the

transferral of historically local powers to

state agencies and a tightening of revenue

sources through the pegging of local

council rates. This has led to 17 out of the

42 local councils in Sydney currently beingfinancially vulnerable or unsustainable.9

A consolidation of LGAs would lead

to greater consistency in the approachtowards planning, growth and

infrastructure. It would also provide

closer alignment to the functions of

State government agencies. Integration

and cooperation between local and

state governments is the second area

where the governance structure of

Sydney could be enhanced.

Finally, at state level, the provision of key

services and responsibility for strategic

direction is often fragmented across

departments. Indeed, Sydney has all

the policy instruments at this State level,

but a conductor is needed to provide

coordinated direction. There is a role for

independent bodies, above the influence

of short term political cycles, to advocate

matters of high importance to Sydneys

future, such as infrastructure provision

and global positioning.10

Developing a cohesive

brand identity is centralto driving SydneysEconomic competivness

06 Governance: bringing it all together

Numerous individual policies exist which could address the issues raised in previous chapters. However,

specific policies address specific needs that can change rapidly. Hence, focus should be placed on what is

required to meet not only current, but emerging policy needs. This leads down the path of coordination and

governance, and whether the current governance structures best serve the contemporary needs of Sydney.

7. Sydney Chamber of Commerce, Whos Governing Sydney, 2007.

8. NSW Business Chamber, 10 big ideas to grow NSW, 2010.

9. Fiscal Star, NSW Councils: 2009 Financial Sustainability Assessments.

10. NSW Business Chamber, 10 big ideas to grow NSW, 2010.



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The key findings and implications of this

study are summarised below:

Areas identified as Sydneys current

weaknesses, compared to other global

and emerging global cities, can all be

addressed via targeted policies that

leans on global best practice. While

the task of formulating, coordinating

and delivering these policies

should not be trivialised, it must be

acknowledged that these are within

the sphere of influence of Sydneys

relevant policy making agencies.

It could be argued that the areas

where Sydney demonstrates its

greatest strengths exist primarily

outside the sphere of policy influence.

Natural endowments, from beaches

though to the climate, afford Sydney

an advantage few international cities

possess or could hope to achieve.However, caution needs to be taken

against becoming complacent of this

natural advantage. Measures can still

be adopted to maintain and improve

access to green space, protect current

air quality levels and the environmental

integrity of our national parks and

waterways.

The multitude of methodologies adopted

across reports, and variety of findings,

also suggest that there is no single

quality that defines a global city, or

policy that can be enacted to try and

achieve this status. Emphasis needs to

be placed on the plethora of underlying

attributes, preconditions, strengths and

weaknesses to identify where progress

can be made. This process, by its very

nature, is incremental and occurs across

an extended time period. It is also fairto comment that achieving global city

status is not, or as it should be, a specific

policy goal. Rather it is an outworking of

numerous best practice smaller policy

achievements all contributing to this

desirable outcome.

Hence, the goal of any city should not

be to claim the global city title. Rather,

address business, infrastructure and

social needs through innovative, proactive

and successful business, social and

infrastructure policies is priority. Only

then will the city truly become not

only a regional leader, but a significant

contributor to global networks.

07 Conclusion

Sydneys mantle as Australias only global city is related to the capacity to attract, retain and develop world

class business and provide for residents. In this report, the current strengths and weaknesses of Sydney

were highlighted guide future policy development and the opportunity to not only consolidate, but build

upon Sydneys position.



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2thinknow Global Innovation Agency (2009) Innovation Cities Program

AnholtGfK Roper Ci ty Brand Index (2009)

City of London (March 2009) Global Financial Centres Index 5

City of London (September 2009) Global Financial Centres Index 6

Economist Intelligence Unit (EIU) (2009) Most Liveable Cities

Foreign Policy (2008) The 2008 Global Cities Index

Frontier Centre for Public Policy (2010) Demographia International

Housing Affordability Survey: 2010, Ratings for Metropolitan Markets

MasterCard Worldwide (2008) Worldwide Centers of Commerce Index

MasterCard Worldwide (2007) Worldwide Centers of Commerce Index

Mercer (2009) Quality of Living Report

Metropolis (2008) Urban Transport Sustainability

accessed at

PricewaterhouseCoopers New York City (2008)

Cities of Opportunity: business readiness indicators

for the 21st century

PricewaterhouseCoopers New York City (2007)Cities of Opportunity: business readiness indicators

for the 21st century

RMIT (2007) Global University City Index

Siemens (2006) Study of Worldwide Quality of Life

Transparency International (2008)Corruption Perception Index

UBS (2009) Prices and Earnings: A comparison of

purchasing power around the globe

UBS (2009) The most expensive and richest cities in the world

World Economic Forum (2009) The Global Competitiveness

Report 2009-2010

Sydney Business Chamber (2010)10 Big Ideas to Grow

Sydney Business Chamber (2007)Sydney First,

Whos Governing Sydney?

The Committee of Sydney (2010)Global Sydney: Challenges

and Oppor tunities for a Competitive Global City

The City of Sydney

Sydney Airport

Sydney Ports Corporation,Annual Review 2008-09

SGS Economics and Planning (2009)Global Sydney:

Challenges and Opportunities for a Competitive Global

City, prepared for the Committee for Sydney

AAppendices

The reference materials used in

this analysis include:



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Contacts

Sydney Business Chamber

thechamber.com.au

Level 12, 83 Clarence Street,

Sydney NSW 2000 Australia

Tel +61 (2) 9350 8100

Fax +61 (2) 9350 8190

Scott Lennon

Partner, Economics and Policy

PricewaterhouseCoopers Australiapwc.com.au

201 Sussex Street,

Sydney NSW 2000 Australia

Tel +61 (2) 8266 2765

Mob +61 416 156 615

Sydney Business Chamber is part of NSW Business Chamber

and together we represent 22,000 busin esses across the state,

including 120 local Chambers of Commerce. The Business

Chamber is a memberbased organisation, which includes

many Sydneybased corporations and institutions.

Printed on Sovereign Offset. Sovereign Offset is FSC Certified and considered

to be one of the most environmentally adapted products on the market.

Containing fibre sourced only from responsible forestry practices, this sheet is

ISO 14001 EMS accredited and made with elemental chlorine free pulps.

2010 Copyright Sydney Business Chamber, PricewaterhouseCoopers, All rights reserved.

(ABN 63 000 014 504). All other rights are reserved. No part of this work may otherwise be

reproduced or copied in any form without the written permission of Sydney Business Chamber.

PricewaterhouseCoopers refers to PricewaterhouseCoopers, a partnership formed in Australia or,

as the context requires, the PricewaterhouseCoopers global network or other member firms of the

network, each of which is a separate and independent legal entity. PwC have based this report on

information received or obtained, on the basis that such information is accurate and correct. The

information contained in this report has not been subject to an Audit.

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Sydney Emerging Global City Jun10

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